Microsoft-owned LinkedIn has laid off nearly 700 employees in its second round of job cuts this year. The layoffs will affect 668 employees across its engineering, talent and finance teams.
In an email sent to employees on Monday morning, LinkedIn said it was ‘reorganizing to improve agility and accountability.’
The layoffs, which affect more than 3% of the 20,000-strong staff, add to the tens of thousands of job losses this year in the technology sector in the face of an uncertain economic outlook.
Read the full text of LinkedIn’s email to employees regarding layoffs, as published by Business Insider:
Team,
We did not expect to share this important update with you all in the midst of such challenging times but in the spirit of clarity, Tomer and I wanted to share some news regarding changes we are making to our orgs. As we continue to execute on our FY24 plan, we need to also evolve how we work and what we prioritize so we can deliver on the key initiatives we’ve identified that will have an outsized impact in achieving our business goals. This means adapting our organizational structures to improve agility and accountability, establishing unambiguous ownership, and driving improving efficiency & transparency through reduced layering.
These decisions result in the reduction of 563 roles across R&D. Broken down, there are 137 Engineering management roles and 38 Product roles being reduced. Additionally, there will be 368 role reductions across our Engineering team in an effort to better align resources to our FY24 plan, and we will open a small number of new roles to fill critical gaps in our ambitious roadmap.
For those who are directly affected by these changes, you will receive a calendar invitation within the next hour, titled “Required Attendance: R&D Role Reductions”. This meeting will provide you with detailed information on how we we will support you through this transition.
If you do not receive this invitation, expected communication from your Product or Engineering Executive leader soon with specifics pertaining to your organization and how we will collectively navigate through these changes.
Tomer and I made these decisions with deep consideration towards the long-term needs of our business and with the acknowledgement that every affected individual has played a valuable role in the growth and success of LinkedIn. In the coming days, our focus will be on supporting each other and discussing the ways we will move forward, with our vision, mission and values as our guides. Today, it is imperative that we support our colleagues navigating this transition. Let’s continue to embrace empathy and understanding through these difficult times and use these as a cornerstone for the support we provide each other.
Difficult but necessary, says LinkedIn in press release
In a press release, LinkedIn called the workforce changes a ‘difficult but necessary’ part of managing a business.
‘While we are adapting our organizational structures and streamlining our decision making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers,’ the company said.
While the company cuts its losses globally, LinkedIn is going to ramp up hiring in India, a person familiar with the development told CNBC.